Jacobs Levy Equity Management Inc. Takes Position in Alamo Group, Inc. $ALG

Key Points

• Jacobs Levy Equity Management Inc. has acquired 21,541 shares of Alamo Group, valued at approximately $3.84 million, representing about 0.18% of the company as of their latest SEC filing.
• Alamo Group received several rating upgrades from analysts, including a "strong-buy" rating from Baird R W, with a boosted price target from $209 to $260.
• Alamo Group recently declared a quarterly dividend of $0.30, resulting in an annualized yield of 0.6%, and a modest dividend payout ratio of 12.22%.

Jacobs Levy Equity Management Inc. acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,541 shares of the industrial products company's stock, valued at approximately $3,839,000. Jacobs Levy Equity Management Inc. owned approximately 0.18% of Alamo Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Alamo Group by 31.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 65 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Alamo Group by 4.1% during the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock valued at $448,000 after acquiring an additional 100 shares during the last quarter. Finally, Heritage Family Offices LLP boosted its position in shares of Alamo Group by 8.3% during the 1st quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Analysts Set New Price Targets

ALG has been the topic of several recent research reports. Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Baird R W raised shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, DA Davidson reissued a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $234.00.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.18% of the company's stock.

Alamo Group Trading Down 2.5%

NYSE ALG traded down $5.21 during trading hours on Friday, reaching $206.05. The company had a trading volume of 77,310 shares, compared to its average volume of 67,703. The stock has a 50-day moving average of $218.30 and a 200 day moving average of $199.98. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $233.29. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.50 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The company had revenue of $419.07 million during the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. As a group, research analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group's dividend payout ratio is presently 12.22%.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor - and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.